Lupin is the second-largest pharma company in the country by market capitalisation behind Sun Pharma. It is dominant in the anti-TB and cephalosporin segment but is also a significant player in the cardiovascular, diabetology, asthma, paediatrics and anti-infective space. While the firm was active in pushing through an inorganic expansion strategy during 2007-09 it has been cautious not to go after large deals like its peers.

However, after a two-year hiatus the firm snapped two companies overseas this year, looking at inorganic expansion more seriously and has hired key resources internationally to spearhead the strategy. With the acquisition of Nanomi, the firm aims at growth in the complex injectable space.

In an interview with VCCircle, Ramesh Swaminathan, Chief Financial Office of Lupin, speaks about the need for inorganic growth, growth strategy and new geographies the firm plans to penetrate into.